property insurance for commercial property
Commercial Property Insurance
Owning a commercial property can be a huge investment, but what happens if there’s a flood or fire? This would not only mean a huge financial payout from yourself to fix the damage caused, but this disruption could also mean you no longer receive an income from your property. This is because the tenant is no longer able to run their business in these conditions, so they aren’t paying you rent.
These kinds of scenarios could happen at any time and if you’re not prepared the impact this will have on your finances could be catastrophic. Do you have the correct commercial property insurance coverage? EYIB can help you make sure you have the correct coverage in place so that if any of those things does happen to your property, your income will be protected!
Trusted by 250+
Local Businesses
Access To Over 300
Insurance Markets
Our Clients Rate
EYIB 4.9/5 Stars
Trusted By 250+ Local Businesses
Access To Over 300 Insurance Markets
Our Clients Rate EYIB 4.9/5 Stars
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What Is Commercial Property Insurance?
What Is It?
If you’re a landlord of a commercial property and you’re leasing your premises; commercial building insurance is for you! Owning an office space, an industrial unit or a shop all come with their own set of potential risks that you need some type of cover for. Without the right insurance in place, if something happens that results in you not receiving your rent or having damage to your property, this can be extremely detrimental to you and your finances. However, knowing what type of cover you need can also be complicated to do on your own… That’s where we come in! We can make sure that your commercial space is protected from the risks you may face; ensuring that when disaster strikes, you can stay afloat!
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Why Get Commercial Landlord Insurance From EYIB
Why Choose Us?
We're Connected
We’ve got connections to the industry… Over 300 insurers to be exact which spans across various types of insurance we advise on. Choosing us you can be confident that we can get you the coverage you need.
We're Experienced
Our experience is hard to match! John our MD has over 15 years in the insurance business and EYIB has been running for over 4. You can trust us for your insurance needs.
We're Trusted
EYIB is trusted by over 250 local businesses; get in touch with us and find out why we’re the ones to have confidence in.
Years Experience
Local Businesses Insured
Insurers
Our Insurance Partners
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What Commercial Property Insurance Covers
What’s Included?
Buildings sums insured
Legal expenses
If a tenant breaches their obligations and you need to forfeit their lease and evict them, they could try and sue you. Legal expenses cover you to pursue legal options and evict the tenant if needed.
Legal expenses
Loss of rent
Property owners liability
Property owners liability for landlords is also called “public liability insurance”. If one of your tenants, or someone visiting the premises becomes injured, then you could be liable and have a costly lawsuit against you. With this policy; legal fees, medical expenses and settlements from lawsuits will be covered.
Property owners liability
How Much Does It Cost?
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How Much Is Commercial Property Insurance?
How Much Does It Cost?
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Do I Need Commercial Building Insurance?
Do I Need It?
Being a landlord comes with its own set of risks, but especially so if you have a commercial property. Commercial properties often have a sea of people coming in and out, and if they suffer an injury while on your premises, you could be sued. Paying for medical bills and the cost of lawsuits can be very expensive. But with commercial landlord insurance in place, this can be the difference between your commercial property remaining profitable to you being forced to sell. Don’t take the risk and get commercial building insurance today.
Example Of Commercial Property Insurance In Action
Thankfully Emma was prepared and she had property owners liability cover within her insurance policy, this covered the cost of the medical expenses and loss of earnings for the customer. If Emma hadn’t had this she would’ve had to pay thousands and potentially lost her property. But since she was insured, she is able to continue to maintain her income and protect her finances.
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Potential Claims Commercial Landlord Insurance Will Protect You From
Landlord Claim Example
Your office unit has had a break in and all your windows have been broken. Commercial landlord insurance can cover the costs of restoring your property, and replacing stolen items, such as communal furniture or appliances.
Your retail space has a sign and it falls and lands on a customer’s car. The cost of repairing the damage will be covered by your commercial landlord insurance.
What Our Clients Think
John was amazing—friendly, patient, and full of great advice. He really took the time to understand our charity and made sure we got exactly the right insurance. Highly recommend East Yorkshire Insurance Brokers
Billy Dasein
East Marsh United
Sarah provided excellent service, taking the time to review our sums insured and ensure everything was accurate. She pointed out gaps in our cover we weren’t aware of and explained everything clearly. We feel much more confident now. Highly recommend East Yorkshire Insurance Brokers!
Connor Hewson
Assured Marketing
East Yorkshire Insurance Brokers have looked after our insurance for several years, and we’re always impressed by the great service they provide. They’re professional, reliable, and always find us a competitive deal. Couldn’t ask for better!
Jason Kay
H2MO Limited
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Meet Your Commercial Property Insurance Broker
Your Dedicated Insurance Broker
Do commercial landlords need public liability insurance?
Yes, but for commercial properties public liability is called property owners liability and this covers the legal fees and medical expenses if someone is injured on your property.
Do commercial landlords need public liability insurance?
Who is responsible for insuring a commercial property?
As a landlord, it’s usually your responsibility to maintain the premises therefore it’s you who needs to organise the commercial property insurance as you’re the one who would be liable.